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Former President Olusegun Obasanjo yesterday told Mrs Folorunsho Alakija
who is Africa’s richest woman, that his administration made her among
the many billionaire Nigeria presently has.

The former President who was a guest speaker at the 2016 Tony Elumelu
Foundation Entrepreneurship Forum, said this while reacting to claims by
Alakija that the Obasanjo administration frustrated her moves to
explore the oil sector after getting her oil license from the lae
military dictator, Sani Abacha.

According to Alakija who was also a panelist, the
Obasanjo administration illegally took an oil block allocated to her
company after her family had invested all its savings to strike oil in
commercial quantity. Vanguard quotes her as saying

“This oil block is in 5000 feet depth of water and was extremely
difficult to explore. It took 15 years from the time that we were
awarded the licence in 1993 till 2008 when we struck the first oil When
this event happened, 60 per cent out of our 60 per cent equity in the
business, was forcefully taken from us by the government of the day
without due process. We had to fight back by going to court to seek
redress and it took another 12 years for justice to be served in our
favour. In all those years it was my trust in God, my perseverance and
the support of my family that got me going,” she said.

Obasanjo replied Alakija when he was given the microphone to speak at the event. He said

“There is a saying in my part of the world that when a proverb touches
you and you failed to reply, then you are a coward. For you to come here
and say that, for no cause whatsoever, you were denied what was
rightfully yours, is not fair. I do not know you from Adam and there is
no reason I would have denied you what rightfully belonged to you. So,
you have struggled, and you have struck oil. God bless your heart. My
delight is to be able to create Nigerian billionaire and I always say it
that my aim, when I was in government was to create 50 Nigerian
billionaires. Unfortunately I failed. I created only 25 and Madam, you
are one of them” he said

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Former President Olusegun Obasanjo yesterday told Mrs Folorunsho Alakija
who is Africa’s richest woman, that his administration made her among
the many billionaire Nigeria presently has.

The former President who was a guest speaker at the 2016 Tony Elumelu
Foundation Entrepreneurship Forum, said this while reacting to claims by
Alakija that the Obasanjo administration frustrated her moves to
explore the oil sector after getting her oil license from the lae
military dictator, Sani Abacha.

According to Alakija who was also a panelist, the
Obasanjo administration illegally took an oil block allocated to her
company after her family had invested all its savings to strike oil in
commercial quantity. Vanguard quotes her as saying

“This oil block is in 5000 feet depth of water and was extremely
difficult to explore. It took 15 years from the time that we were
awarded the licence in 1993 till 2008 when we struck the first oil When
this event happened, 60 per cent out of our 60 per cent equity in the
business, was forcefully taken from us by the government of the day
without due process. We had to fight back by going to court to seek
redress and it took another 12 years for justice to be served in our
favour. In all those years it was my trust in God, my perseverance and
the support of my family that got me going,” she said.

Obasanjo replied Alakija when he was given the microphone to speak at the event. He said

“There is a saying in my part of the world that when a proverb touches
you and you failed to reply, then you are a coward. For you to come here
and say that, for no cause whatsoever, you were denied what was
rightfully yours, is not fair. I do not know you from Adam and there is
no reason I would have denied you what rightfully belonged to you. So,
you have struggled, and you have struck oil. God bless your heart. My
delight is to be able to create Nigerian billionaire and I always say it
that my aim, when I was in government was to create 50 Nigerian
billionaires. Unfortunately I failed. I created only 25 and Madam, you
are one of them” he said

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